Crude Oil Movement
Crude Oil prices advanced 1.30% against the USD for the 24 hour period ending 23:00GMT, closing at 96.72, as investor sentiment improved following the release of upbeat German economic sentiment data.
In the Asian session, at GMT0400, Crude Oil is trading at 96.70, marginally lower from yesterday’s close.
Investors await the oil inventory data due later today and tomorrow, to offer further guidance to oil prices.
Crude oil is expected to find support at 95.74, and a fall through could take it to the next support level of 94.79. Crude oil is expected to find its first resistance at 97.23, and a rise through could take it to the next resistance level of 97.77.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
